If interest expense exceeds the related interest income in any one year, which of the following statements is true? Multiple Choice The excess is treated as a property loss and deductible against a taxpayer's other sources of income The excess is treated as a property loss and deductible against the taxpayer's other sources of property income The excess is denied as a deduction and the net interest income is reported as nil The excess is deferred and deductible in the following year, to the extent the interest income exceeds the related expense in that year